Jio Platforms Limited has filed its Red Herring Prospectus (RHP) with the Registrar of Companies, on Wednesday taking another key step towards its initial public offering (IPO).
\n\nThe IPO for Jio Platforms, a subsidiary of Reliance Industries, will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. The anchor investor bidding date has been scheduled for Monday, October 19.
\n\nNotably, Jio had filed its Draft Red Herring Prospectus (DRHP) on June 19, 2026, and received an observation letter from the Securities and Exchange Board of India (SEBI) on August 28, 2026.
\n\nFurther, the IPO includes a reservation of shares worth up to Rs 500 crore for eligible employees of Jio Platforms, and also reserves shares worth up to Rs 2,500 crore for eligible Reliance Industries shareholders.
\n\nAccording to the draft papers, up to Rs 27,500 crore of the net proceeds will be used to repay or prepay borrowings, mainly linked to Reliance Jio Infocomm, with the balance for general corporate purposes.
\n\nAs reported by Reuters, Jio Platforms was targeting a valuation of about $106 billion, or around Rs 10.3 lakh crore. The company was looking to raise up to about Rs 30,200 crore at the…
Original source: https://www.timesnownews.com/business-economy
